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Jun 30, 2024
Insight Enterprises Q2 2024 Earnings Report
Second quarter results reported with gross profit increase and expanded gross margin.
Key Takeaways
Insight Enterprises reported a decrease in net sales by 8% year-over-year but achieved a 5% increase in gross profit and an expansion of gross margin by 260 basis points. The company's strategy focusing on cloud and services contributed to double-digit growth in cloud and Insight Core services gross profit.
Gross profit increased 5% year over year to $453.4 million with gross margin expanding 260 basis points to 21.0%.
Insight Core services gross profit grew 12% year over year.
Cloud gross profit grew 21% year over year.
Consolidated net earnings grew 9% to $87.4 million, year over year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year 2024, the Company expects Adjusted diluted earnings per share to be between $10.60 and $10.90. We expect to deliver low double digit gross profit growth and expect that our gross margin will be in the 19% to 20% range.
Positive Outlook
- Adjusted diluted earnings per share to be between $10.60 and $10.90.
- Deliver low double digit gross profit growth.
- Gross margin will be in the 19% to 20% range.
- Interest expense of $60 to $62 million.
- Effective tax rate of 26% for the full year.
Challenges Ahead
- Assumes no acquisition or integration related expenses.
- Excludes acquisition-related intangibles amortization expense of approximately $69 million.
- Assumes no transformation or severance and restructuring expenses, net and no significant change in our debt instruments or the macroeconomic environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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